Industry Watch: Rocket Mortgage adds waived fees on dropped rates, UWM adds to jumbo product slate and more

Hyperion Mortgage has been licensed in North Carolina. In addition to its home state of Georgia, Hyperion Mortgage also holds licenses in Alabama, Florida, New Jersey, Pennsylvania and Tennessee.

Planet Home Lending has added a new team in Minneapolis led by branch managers Bob Clausen and Quan Hargrove. Planet plans to add 20 mortgage loan officers and six branches in the Twin Cities area, then expand to additional markets in the Midwest. Planet partners with the Minnesota’s Housing Finance Agency, which offers down payment and closing cost assistance up to $17,000 for first-time and repeat homebuyers.

Rocket Mortgage has announced the introduction of Rate Drop Advantage, a new program that brings confidence to homebuyers by covering a significant portion of closing costs of a refinance transaction if interest rates drop and they refinance within three years of purchasing a home. Through Rate Drop Advantage, when clients refinance within the allotted timeframe, Rocket Mortgage will waive the fees for appraisal, credit report pulls, processing, underwriting and several other costs, for an average savings of approximately $2,000.

United Wholesale Mortgage (UWM) has announced the launch of Prime Jumbo Max ARMs. UWM clients now have access to UWM’s Prime Jumbo Max pricing with the flexibility of a 7- or 10-year ARM on primary and second home purchases, rate & term and cash-out refinance for loan amounts up to $3 million and up to 80% LTV. Prime Jumbo Max ARMs represent the latest recent rollout of jumbo offerings for UWM, following the debuts of Prime Jumbo, Prime Jumbo ARMs, Prime Jumbo Released, Prime Jumbo Interest Only and Prime Jumbo Max.


More Headlines